Monday , June 21 2021

The dollar recovered to its maximum price in 2019 and returned to the free zone



With a slight advance of 0.6%, the US currency was established over 39 pesos for the public and 38 pesos on the steering wheel wholesaler, at its highest quotes in early 2019.

On the square the wholesaler added his eighth consecutive day to a promotion, this time with 23 cents to $ 38.22with what he managed to overcome the floor of the "no interference" of the Central Bank.

This free floating group had a floor this Wednesday $ 38,209 and a ceiling of 49,447 peso. For Thursday, the lower limit will increase to 38,236 peso.

The amount traded on the spot segment amounted to $ 894 million, while $ 926.1 million was traded in ROFEX. in futures. Positions for the end of the month ended at 38.78 pesos,

The Central Bank bought $ 18 million on the interbank market at an average price of $ 38.0786, an open auction of up to $ 25 million. The subject accumulates in 2019 purchases for $ 978 million which were included in the reserves.

IN average for banks The Buenos Aires microcenter offers the dollar 39.16 pesos,

Since the beginning of 2019 the dollar has gained growth from 52 cents or 1.4%, below inflation.

More than the purchases of the central currency under the waterline exchange rate recovery obey the uninterrupted low offered by daily auctions for liquidity letters (LELIQ), for 1,500 basis points so far in 2019.

About Experts' Experts bridge, in the last wheels "he felt impact in the Exchange Market. t change within the limits of holding liquid letters from banks. Analysts estimate that this regulation would, in principle, be affected banks that have borrowed funds in dollars with their parent companies, forcing disarmament in trade".

"We believe the pace of the the fall in prices should continue to slow downsaid the consultant Delphos Investment, while the LELIQ representation "would reach a short-term level in. t 44/45 annual percentage. "

Lower rates in pesos suggest an appreciation of the US currency for a revival of portfolio dollarisation,

from Invecq economic consultant explained that the dollar operates several wheels in the intervention area because the market is "the shedding of dollars in net terms "this is nothing more than a increase in demand for pesos, "In this case, official intervention should be given in the direction of supplying this pessos liquidity, which the public requires. increases net reserves of the Central Bank in expanding its monetary base, "Invecq analyzes.

on reservations The central bank reached on Tuesday 66 917 million St and they are still many near the record historical.


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